No there won't..... Most of them will still stick to BFL cause they believe (like really religious "batshitcrazy" people) that their holy savior ASIC will arrive soon. Even if there is another delay  It's not as if they can "take their business elsewhere" at this point anyway. No-one in their right might would place an order with bASIC. ASICMiner isn't going to be selling to the public in the near future. Avalon is due to deliver their first batch soon but orders are closed for that. For BFL customers, the choice at the moment is to either hang in their or to get a refund and abandon the idea of ASIC mining for the immediate future (which they don't want to do because they'll be disadvantaged if BFL does deliver at some point - even if it's late - and they don't have an existing order). |
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Good news from Dave on the bASIC forums: Tom tells me we've paid out well over $200k in refunds from the bank account and $100k in BTC refunds - and they will continue. Tom has paid me up on my recent invoice as well. He continues to demonstrate that he is committed to working this out and taking care of the customers with the same integrity he shown in the past.
I'm hopeful that we will reach a tentative agreement early in the week, with a more formal deal signed by end of week. More to come... https://www.btcfpga.com/forum/index.php?topic=1041.msg3096#msg3096Presumably a certain level of units need to be sold in order for the continuation of the project to be viable. Many orders have already been cancelled and it's unlikely that anyone will place new orders until the existence of a working model can be proven. If another vendor can prove they have working units before bASIC does, it's likely that many people will order from that vendor rather than take a chance on bASIC being able to deliver in March. Until a potential buyer has completed their due diligence and determined that the project is viable, there really isn't any "good news". Even then, a great deal depends on the new delivery timeline and whether or not the community has faith that the new owners are competent to take the project to completion. |
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I can only imagine the pain felt by those with pre-orders to see the man who runs this company act in such a way on the CES floor convention floor
What makes you think they care? Most people aren't in the habit of caring about how the management staff of companies with whom they do business behave - they care about the product those companies produce. |
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Well shit. Has anyone gotten any CC refunds yet? I asked on 1-6 and of course nothing has shown up yet. I realize the BTC have gone out somewhat, so...anyone gotten anything on this front? Sad that my bank is closed till monday  Dave posted that he's processed CC refunds but that he doesn't know whether Tom transferred the funds to cover them (this was supposed to be done by wire). He's recommending that customers who paid by CC contact their CC company and request a charge back. |
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From that drunken email, it sounded like it was in Asia loosely because of the Chinese New Year. Something is really off about this change of events. CNY for one only hampers shipments for 2-4 weeks depending on the firm. Also, why did he not official announce who purchased the company?
There's been no buy-out as yet - that's what the latest update was about and why people have been told to issue charge-backs if they paid by CC. At this time, there is no deal. https://www.btcfpga.com/forum/index.php?topic=1041.0 |
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To answer this question: Do you really want me to provide you an update like this? It requires basically zero thought or effort to make MPOE-PR look stupid and I can do it in 5 minutes. The update I want to put together requires some thought, effort and formatting, so I can provide useful information. If you'd rather have a useless update post, I'll be happy to provide, however, be aware that when the throngs start complaining, I'm going to send them to you for an explanation, you good with that?
Just noticed that there's a sort-of update in the shout-box on BFL forums - I suspect you'll be following up on it soon so it doesn't become another one of those Chinese whispers things like people somehow getting the idea that you were shipping 14 January did. You know - of course - that no matter how carefully you word your update it will still end up being mis-interpreted .  |
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Mods, can we get the thread title changed to something more accurate.
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Dave is now advising customers who paid for their bASIC order by credit card to initiate a charge back. At this point, if you are thinking of sending me a refund request, I recommend you do a chargeback instead. https://www.btcfpga.com/forum/index.php?topic=1041.0 |
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So let me get this straight: the only reason people were getting BTC refunds was because Dave and Lukas were urging Tom to. Then Tom is supposed to provide crucial information about the ASICs, and instead he packs up and leaves town. Their bank account does not have enough funds to process CC refunds because Tom was in charge of that, too. Now, we have no idea where Tom is, we don't know if people are even going to be getting refunds (CC or BTC), the BTCFPGA forum is still under lockdown, and we have absolutely zero information about the status of the bASIC's development. And all of this is directly from the 2 remaining bASIC team members. Talk about a shit storm!
According to Dave, funds have been wired to the merchant account to cover the CC refunds (you normally wouldn't keep huge amounts in that account so there's nothing suspicious about that) - he needed to confirm that those funds had been credited to the merchant account before he could process any more CC refunds. At this point there should be updates every 12 hours. Continually asking customers to give you a couple more days to sort shit out and then not having it sorted out when you're given that grace period is pretty much setting the project up for certain failure. It's also disturbing that there has been no report on "where the project is up to". While the new team will obviously want to confirm this for themselves, Tom should have been totally aware of where the project was up to at any given time and in fact it's impossible for him to give assurances about March delivery without knowing that. Don't ask people to wait a couple more days for more information and then fail to deliver it. No-one's going to take any of your "guarantees" seriously unless you start delivering the information you promised on schedule. If you don't want people initiating charge backs, then give them a reason not to - like that "hard date" for a video which was promised but hasn't been delivered. You're doing yourselves no favours by keeping the identity of the new team a secret - people are cancelling because they cannot make a decision about whether to trust the new team until they know who's going to be running the project and they already don't trust those who are apparently still in charge. |
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You are nothing but a two bit whore who can't hold down a job without sucking your bosses cock.
God you're pathetic. I'm sure if they go pitch Bitcoin on www.reddit.com/r/MensRights/ as a currency women can't understand and funds which can be hidden from your spouse, they'll have an order stampede. Perhaps Josh knows his market well. |
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I believe the charges would be dropped, there was something else going on with Swartz.
His struggle with depression was well documented - he blogged about it. I'm curious why you believe that the charges would have been dropped so close to trial, though. |
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God I hope Josh posts an update tomorrow so people have something new to squabble about.
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After reading this last a few minutes ago, I wondered if this guy was on SSRI meds or something. There ought to be better ways to get people that bottle up their emotions to seek help.
A swallow your pride pill so to speak.
I mean, how troubled was the guy that his only way out was a premature death, he should have been rich,m reddit.com sold for a lot of money if I remember correctly.
He was looking at 35 years in a federal prison. SSRIs aren't going to make anyone believe that's something to look forward to. |
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Due to the delay with chip fab, the new team believes we *must* provide proof-of-tech. Tomorrow I will post up a hard date by which we will deliver a video showing a hashing unit. This will not be a production unit, but it will show that the hard work has been done (the chips work, the PCB design is complete). ...another deadline passed for the bASIC team... I understand that it is a busy time for all involved, but perhaps a lesson is learned to not promise updates and then fail to deliver? Still waiting for a date when this video is going to be available. Why should anyone believe that they can follow through on a shipping date if they can't even follow through on announcing a date when the video will be available? By the time they've negotiated a rescue package with new owners, there's not going to be anything left to salvage at this rate. |
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Just how do you think Sonny is able to tell his parole office he is going to be investing in a startup, when his "finances had dwindled to zero" and "does not have the ability to pay a fine"? Possible, but extremely unlikely.
You do realise that in many start-ups not all of the equity owners invest capital and that even if they do it's often a token amount like $1. Likewise, the consequences of violating a parole condition vary by jurisdiction as does whether or not parole can be terminated early. |
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Requested a refund on 8 Jan / Tuesday - still nothing today.. CC was used.. I have held back on doing a charge back.. will give it until Tuesday next week.
Dave did post that they'd transferred more funds to the CC account for the refunds. Keep in mind that even if Dave/Tom work through the weekend to process refunds the payment processors work on their own timetables and refunds may not hit people's accounts until a few business days after Tom/Dave have done everything necessary at their end. They really need to be sending out emails advising people when their refunds have been processed if they want to avoid people initiating charge backs (which could well cause the freezing of their merchant account and screw up the refund process entirely). Locking their forums was a terrible idea which only encourages more of the kind of speculation they were hoping to avoid. If they're not going to give adequate updates on their own forum, then they need to be giving a progress report at least once every 24 hours here. Their customers have no reason whatsoever to trust them right now and they're doing an appalling job of trying to rekindle trust. They've failed to provide a single could reason why people should not cancel their orders and request refunds right now. |
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Last I checked refunds are not free.
Wire transfers cost money half of the time. Especially overseas.
Paypal would be unlikely to tolerate large numbers of refunds even on a business account. They are probably issuing cash to various accounts by means of various loop holes.
Transferring money from one domestic bank to another is probably the cheapest way to go about it.
Based on what Dave's posted on their forums, they've been doing refunds via credit card and by BTC. |
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